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Top cards for you in August 2023
August, the month of celebrations in India, is upon us, bringing with it a plethora of significant events like Independence Day, Raksha Bandhan, Onam, and more. As we immerse ourselves in the joy of these festivities, our expenses naturally increase with gifts, outings, and gatherings. However, worry not, for this August, we have a secret to share -- with the right credit card, you can not only manage your expenses but also earn generous cashback rewards. In this article, we will explore some of the best credit cards available in India in August that offer attractive cashback benefits, making your celebrations even more delightful and pocket friendly.
The AXIS Magnus Credit Card is a premium offering that provides exciting cashback opportunities. With this card, you can earn cashback on various categories such as dining, fuel, travel, and online shopping.
Joining Fee - Rs. 10,000 + GST
Renewal Fee - Rs. 10,000 plus taxes
Issued on - Mastercard.
Welcome Benefits
Choose any one of these - Tata Cliq voucher or a free domestic flight ticket worth Rs. 10,000.
Benefits
Movie & Dining:
Get up to Rs. 500 off on tickets on BookMyShow (max 5 times a month), 20% discount at 4,000+ restaurants across India under the Axis Bank Dining Delights program.
Lounge access:
Unlimited complimentary international and domestic airport lounge access for primary cardholders.
Reward Scheme:
12 Axis EDGE REWARDS Points for every Rs. 200 spent with the card, 5X EDGE REWARDS on travel spends via TRAVEL EDGE.
1 Edge Reward = Re. 0.20
The AXIS Privilege Credit Card is tailored for those who seek exclusive privileges and benefits. The card offers cashback on select categories like dining, utility bills, and international spends. Apart from cashback, you get exclusive deals on entertainment, making it perfect for a luxurious celebration experience.
Joining Fee - Rs. 1,500/Nil (for priority banking customers)
Renewal Fee - Rs. 1,500/Nil (for priority banking customers)
Issued on – Visa, Mastercard
Welcome Benefits
12,500 EDGE REWARD Points on payment of joining fee & 6,250 EDGE REWARD Points for priority banking customers.
Benefits
Dining: Up to 20% discount at 4,000+ partnered restaurants.
Lounge access: 2 complimentary visits to the domestic lounges every quarter.
Reward Scheme:
10 EDGE Points on every Rs. 200 spent using this credit card.
1 EDGE Point = Rs. 0.20
With its enticing cashback offers on online shopping, groceries, and dining, HDFC Millennia Card becomes an ideal choice for celebrations with friends and family. Moreover, the card provides discounts on travel and exclusive offers on e-commerce platforms, adding to the joy of celebrating without overspending.
Joining Fee - Rs. 1,000 (plus applicable taxes)
Renewal Fee - Rs. 1,000 (plus taxes).
Issued on - Mastercard, Visa
Welcome benefit.
1,000 CashPoints as a Welcome Benefit.
Benefits
Dining:
Up to 20% discount at partner restaurants with complimentary Swiggy Dineout
Lounge Access:
2 complimentary visits per quarter. (8 in a year)
Reward Scheme
5% cashback (as CashPoints) at select partner online merchants and 1% cashback (as CashPoints) on all other spends (except fuel, rental, and govt. related transactions)
1 CashPoint = Re. 1
The HDFC MoneyBack Plus Card is a popular choice for those seeking a straightforward cashback card. With this card, you can earn cashback on all your retail spends, making it versatile and perfect for all the expenses you'll incur during the festive season. The card also comes with added benefits like fuel surcharge waivers and zero liability on lost cards, providing peace of mind while celebrating.
Joining Fee - Rs. 500 (plus applicable taxes)
Renewal Fee - Rs. 500 (plus applicable taxes)
Issued on - Visa, Mastercard
Welcome Benefits
500 CashPoints
Reward Scheme
2 CashPoints for every Rs. 150 you spend on retail purchases, 5X CashPoints per EMI spends at select merchants, 10X CashPoints on partner brands.
The SBI Card SimplyCLICK is an excellent choice for those who love to shop online. This card offers attractive cashback rewards on e-commerce spends, making it perfect for your August expenditure. Additionally, the card provides milestone benefits and discounts on partner websites, making it even more rewarding.
Joining Fee - Rs. 499 (plus applicable taxes)
Renewal Fee - Rs. 499 + GST
Issued on – Visa, Mastercard
Welcome Benefits
Get an Amazon e-voucher worth Rs. 500 as a welcome benefit after paying the annual fees.
Reward Scheme
1 Reward Point for every Rs. 100 spent on offline spends (reward rate is 0.25%), 10X RPs on online spends at partner merchants. 5X RPs on other online spends (reward rate = 1.25%)
1 RP = Rs. 0.25
The SBI Card Pulse is a suitable option for those looking for a simple yet rewarding cashback credit card. Cardholders can earn cashback on dining, groceries, and other daily expenses, allowing you to save while celebrating. The card also offers fuel surcharge waivers and easy payment options, making it convenient to manage expenses during the festive month.
Joining Fee- Rs. 1,499 + GST
Renewal Fee- Rs. 1,499 + GST
Issued on- Visa, Mastercard
Welcome Benefits
A Noise ColorFit Pulse Smart Watch worth Rs. 5,999. Also get complimentary Fitpass Pro membership, and complimentary Netmeds First membership.
Benefits
Movie & Dining
10 Reward Points per Rs. 100 spent on movies and dining.
Lounge Access
2 complimentary domestic lounge visits per quarter.
Reward Scheme
10 Reward Points per Rs. 100 spent on Pharmacy, Chemist, movie & dining and 2 Reward Points per Rs. 100 spent elsewhere.
1 RP = Re. 0.25
Choosing the correct credit card will help you manage your costs while you're having fun. Remember to choose a card that aligns with your spending habits and preferences to make the most of these cashback rewards. With responsible credit card usage and timely bill payments, you can ensure a financially rewarding and joyous August, filled with cherished memories and delightful moments. Happy festivities and happy savings!
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FAQ’s
Loan against mutual funds (LAMF) allows you to borrow cash against your mutual fund investments as collateral. You can use Volt Money to lien mark your mutual funds digitally to avail an instant limit without losing the ownership of your mutual funds and all the associated benefits with it. Funds will be made available in the form of an overdraft facility.
The annual fee for the Axis Privilege Card is typically Rs. 1,500 plus taxes. This fee can be waived if the cardholder achieves an annual spending milestone, though the exact spending amount for the waiver can vary by card variant. For example, a common waiver condition is spending above Rs. 2.5 lakh in an anniversary year.
Luxe Vouchers are digital gift cards that can be redeemed across popular luxury and lifestyle brands such as Myntra, Flipkart, Pantaloons, and more. Once you qualify for the offer, the voucher code will be sent directly to your registered email ID or mobile number. In most cases, vouchers are delivered within 5–7 working days after successful validation of your transaction or application.
Yes, you can apply even with a low CIBIL score, but your chances of approval may be limited. Most banks and lenders prefer a CIBIL score of 750 or above for quick approval and better interest rates. If your score is lower, some lenders may still consider your application based on other factors such as your income, employment stability, or existing relationship with the bank. However, you may be offered a lower loan amount or higher interest rate. Improving your credit score before applying can increase your chances of getting approved on favorable terms.
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